StoryTime: The dirty world of STRUCTURING
Вставка
- Опубліковано 14 жов 2024
- This is the Largest UNAPPROVED / UNSPONSORED / UNCONTROLLED Magic The Gathering Channel in the world filled with Greed Monsters, Evil Investors, and ....3.696969% Women
Selling a Magic Collection? AlphainvestmentsLLC@gmail.com
PATREON : / alphainvestments
Twitter @MTG_AlphaInvest
SHIRTS: www.ebay.com/s...
~FAN MAIL~
Rudy's Magic Store
10950-60 San Jose Blvd.
Box # 139
Jacksonville, FL 32223
~ January 2020 Patron List ~
MTG - Core 2020 - PRE-RELEASE 18 kit CASES
PIONEER BY THE CASE
MTG - Guilds of Ravnica
MTG - Ravnica Allegiance
NORMAL BOXES - 79.99 shipped
MTG - Throne of Eldraine
MTG - Core 2020
MTG - War of the Spark
That sounds like the scumbags at BoA and didn't they "acquire" M.L.
That or Wells Fargo.
yep after taking bailout money
Bank of America lost 2 separate class actions if which I was a member of. In both instances it was disclosed that deposits were being delayed or put later in the transaction history to show you over drafting and hitting multiple fees. It was silly. They still do it. Lol
BoA definitely did this, they wound up paying out a pittance on a class action lawsuit because of it.
Barret Musselman Oh, Rudy favored it, sounds like you guessed right! My guess was Wachovia which was bought by Wells Fargo.
Rudy’s the best college professor i’ll never have
Facts
Free, unrestricted learning is the best learning.
The Tolarian Prof has nothing on our Rudeboy!
So of course I don't speak for everyone but god I love these finance story video
My favorite type of Rudy
Next up: Money Laundering for Dummies. Rudy teaches the basics.
😂😂
Step 1) Open a Patreon that sells thousands of boxes of sealed product for $79.99 shipped.
Step 2) Use the funds to acquire god-books full of reserved list from an Asian dealer with an annoying voice.
Step 3) Create an UA-cam account to document your collection and justify your assets.
Rudy 2020 takes on the banks.
Rudy 2021 takes on cryptocurrency
Rudy 2025 buys WOTC and starts the RESERVED RESERVE list.
Rudy 2030 retires buys Florida.
Rudy 2031 sells Florida back to the government after an outbreak of "Florida man". Somehow nets a profit.
@@Gulyus Rudy 2035 runs for president
2024. Rudy owns the biggest modern sealed collection in the world. His basement is 69000 sf now
Personally I like these random videos. Im learning things that I know nothing about. It's not a licensed professional teaching but I trust a Pink hat Taco Rudy a bit
Same he was born for UA-cam, mtg and taco stands lol
This happened to me back in 2013 with a major Credit Union in Atlanta, GA. I had no clue there was a name for it, until watching this video. Here's what happened to me:
I had a "free" checkings account with them, and was told I could only use their card 15 times a month, or I would be charged a fee. (I thought it was odd at the time, but it was my first personal checkings account and being 19, I just thought that was the way it was.) I never really used the card much, so I wasn't too worried. I had roughly $200 in my account and saw that an ebay seller was running a sale on their video games. It was something like, "Purchase 3 or more games, save 15% on your entire order." I ended up finding 7 games that I wanted and made my purchase. All in one order. Paypal shows that it was one transaction of roughly $150 and I still had right under $50 left. I went to sleep and thought nothing of it.
Now here's where the story gets interesting...
I woke up and tried to go see a movie. I went to pay and *ERR ERE ERR* DECLINED. I thought it was odd, so I went home and got on the computer and this is what I saw....
7 SEPARATE PAYPAL TRANSACTIONS!
They had never done this before, and I had done orders like that in the past and it was one transaction.
So I was at 18 transactions beforehand, and the games and movie would have been 19 and 20 respectively. Except, now I had 5 transactions "over" the limit. They charged $25 per transaction for "going over the limit". One went through fine, and the other 4 "fees" were "overdrafts". I got hit with $60 per transaction, for a total of $240. It gets even worse... for "using the card in the negative", I was charged an additional $35 on 4 of the transactions.
Meaning, I went from right under $50 to my name, to being $380 IN THE RED!
I printed out the paypal charge and the Ebay purchase page, and drove to the credit union.
Explained what had happened and was told that it was correct and there was nothing they could do.
I explained that I was not about to pay them $380 (I was working for $7.25 an hour, not working over 50 hours for them to steal my money.)
I threatened to sue them and call the news about it. I went home and was going to print out the page showing the charges and call attorneys to see what could be done.
I went to login and "wrong password". I KNEW I was entering it in correctly. Went to reset it and they would never send the reset email so I could.
I decided to eat lunch and keep waiting on the email, but it never came. So I decided to try to log back in again and received, "There is not an account associated with that email. Please try again."
They locked me out and deleted my account so I couldn't have proof.
I got a letter a week letter saying they closed my account for "non-payment of a negative balance." I thought "screw them" and went to open an account with a different bank. I was declined. Reason being? "Unpaid accounts that were closed."
I spent my entire early 20's with no friends, no dates, etc. Because I had no way of easily getting money. I had to wait for a family member to be free so I could deposit my checks and get money out. So I never could go out with anyone, because I never knew when the next time I could get money was going to be and if I needed that for gas money to get to work.
7 years later, I FINALLY got it removed from my record and could open a checking account.
I feel years behind in life, and most of it stems from the first thing on my credit being an unpaid account closed.
To anyone who did or still does this type of theft, you can politely burn in hell.
Rudy asking if we miss him when in reality we missed the pink visor
This has actually happened to me a few times. I've called the bank and disputed it and was lucky enough to get my money back and the fee's waved. However one time they would not remove the overdraft fee and I cancelled my accounts with that bank. Very shady practices.
Bank of America did this to me constantly
Large, hard phyrexian tower.
Hey Rudy wanted to say how much I appreciate these videos and the amount of work that goes into them. I'm more of a yugleeo player myself but I feel gravitated towards these financing and story videos and they not only help me through the day to day but also help me realize my interest in this type of stuff even tho I care very little about math. Just wanted to say keep up the great work and look forward to another patreon once that paycheck hits!
Rudy, this video literally saved my life. I was under water because a financial institution i was using practiced this. I didnt know it was illegal! So with a few polite but firm emails I resolved the situation the way I wanted. Thank you, your videos are fun and informative!
Always a good lecture from the most unprofessional man in magic.
I love this stuff, and would love to hear more from you man. Makes me wanna sign up for patreon too once I can "invest" in some product haha.
The creepier and scummier the videos the better.
Me when Rudy shows the first restructuring example: "Wait....they do the big ones first..."
after 30 seconds.... "OHHHH Rudy wants to show how some people think it is done vs. how banks really do it."
My kids : Where did you learn that much about finance
Me having flashback of Rudy : Sit down kids im about to show you a Guy who shared world 4d chess knowledge for free
When Rudy misses his finance job, he brings white board + sharpie into magic meeting for timmy's
Rudy, I only play magic casually but I always love watching your videos. Your voice calms down my anxiety. Thank you for making videos like this calling out the corruption of the banks. We need more people like you who call out these shady practices. Maybe since no one pays attention to all the good stuff in the world you could do a "StoryTime" of some of the good stuff.
Rudy if all the Timmy’s would just listen .
Pauses at 4:36 just to tell you (1) yes please keep doing more of these structuring videos and (2) suggestion for next structuring videos: tax structuring.
Thank you Rudy, even if you don’t do this because you’re channel is great! All the best in 2020
Astounding how that pink visor allows Rudy to present complex economic concepts in a simple, easy to understand manner!🤔
Love pink visor Rudy. People love when I tell them I'm making financial decisions based off of the advise of an unlicensed taco salesman who lives in his mother's basement. Keep up the good stuff Rudy.
Thanks for going over this for us Rudy. I used to get caught with these kind of things all the time when I was young and dumb. The worst was with Wa Mu where they hit me with a weekly reorganization of my transaction and hit me with 700 in overdraft fees.
I love these finance videos! When I was 19 in college in 2006 I had a skank of america credit card tied to my savings. I over drafted 10.00 on my credit card, overdraft fee of 35.00 for each of my purchases that day, tapped my savings for overdraft protection which was a 35 fee, and that overdrafted my savings which was 45 for a savings account. Next morning, all of those fees tapped again for not being balanced at the end of business the previous day. I woke up to -285 and a closed savings account. It was an experience I wish I could have avoided by watching this video as a teenager :) finance is fascinating to me because of that experience and appreciate the videos from a former financier perspective!
These are the videos that keep me around! Great to put on in the background while I'm cooking or doing dishes. Box openings get booooring
This is what happened to me 15 or so years ago. I attended school in Europe, but worked in US and one day in College I took the wrong wallet with me by accident. I had $100+ on my BB&Timmy debit card and I bought two $2 bus tickets and one $4 pack of Marlboro in Europe thinking I'm fine. Little did I know my $100+ was actually only half of it because of maintenance fees that were result of not getting direct deposit for a few months. Then I got hit with international transaction fees and those $8 + foreign transaction fees actually over-drafted my account. My employer was closed in the winter and they didn't have my European address so I actually didn't know about these charges until the early summer and at this point my negative balance account accrued a bunch of interest for the bank. Totaling over $100, it was the most expensive pack of cigarettes I ever bought. Fortunately I quit that bad habit!
Honestly the white board videos are my favorite. I hope you keep making them Rudy! 😊
As one of the 3.696969% women in your audience, these are my favorite videos on your channel. I don't play nor own any Magic products, so all of those videos are just things I play in the background, but these videos I actively view. Please keep making them!
Thank you for this education! I didn't have a clue. Please continue to sprinkle these videos on your channel
These 'behind the scenes' videos are my favorite. I learn so much. Thanks for putting this out there.
This overdraft fee bullshit happened to me about a decade ago even though I deposited far more than enough in cash into my bank account to cover any debits from my account. I walked into my local branch the next day when I was notified of all these overdraft fees (even though I had the "protection") and told them that what they did was bullshit, and the personal banker fixed it and removed my fees. I'm sure they did this shady stuff to take advantage of unsuspecting idiots who have no idea how money works. By the way, this was with a national franchise Bank (Wells Fargo). I've since switched to a local bank, and they don't do this shady shit.
Outstanding job as always :) When are the Rudy Ted Talks coming to Canada?
I had this happen with Wells Fargo as a college student around six or seven years ago. Go grab a couple cheap meals or snacks, then go and buy your books a few hours later, and all of a sudden there's an overdraft fee associated with each meal and snack.
Wound up calling them and chewing them out over it, so they "did me a favor" and reverted fees down to one instance.
They did this a few other times as well so I wound up moving banks.
Thank you Ruby. I’m really into MTG but these are hands down my favorite videos you make.
Your best video yet. Can't tell you how many times I've fought banks on this. Poor tellers or Bank Managers always looked scared too.
Thanks for doing this video. It’s sad that small town banks are doing this, and worse of all, automatically opting customers into overdraft protection without their permission.
Hopefully people will learn to ask the proper questions when opening an account after watching this video.
Listen to Rudy just flaunting his wood...
furniture. XD
Holy crap.
I live in Puerto Rico and this happened to my girl a couple of months ago.
She her Uber payment did not go through and instead of just being canceled the payment got processed like 5 times and each time she got charged with a $15 dollar penalty. A week later she changed banks.
Thanks for making this video Rudy. And I am sorry UA-cam is throttling your channel, my notifications got turned off...
As a Finance major myself, I love this video. More people need to understand these things. These are always fun conversations to have with folks. Good video! But yes, the larger transaction goes at the top. =)
I would love to see more videos of this kind rudy! Very informative and educational. Keep up the good work as always!
Dude some of the stuff your share with us on here is actually so valuable.
Hey, hey, Creepy Dude! Thanks for the time and info. As always, great job. Slap Rudy's knee cap? WTF? LOL
Wells Fargo paid 1.5 billion in fines for this and estimated they made 100 billion
This is the sort of content I enjoy...goes perfectly with your channel as it deals with Personal Finances. It's hitting close to 2 years since this video came out and it's the first time I heard of the shady banking fees. Thanks for bringing this to our attention, not many people would.
I've been subscribed for 2 years to watch these kind of videos. Looking for more in the future!
I love all of your investment-based content, Rudy, even more so than your MTG content (as both an investor and MTG player myself).
Years on this content is still so interesting. Coming from a Financial background myself I can certainly agree that there are a multitude of shady practices that are still going on today!
I always do structuring. After an all-nighter of vaping and watching Rudy vids I hit my local LGS, but I purchase 300 _Wall of Kelps_ before I get to buying their Collector Edition boxes and box toppers. Though, since they only take cash upfront and don't sell on credit, I end up losing money all the same.
this actually happened to my aunt by bank of america a long time ago, which my aunt never paid for them and hurt her credit. some years later a big class action lawuit was filed which after it was said and done my aunt got like 300 bucks from it
Telling it like it is... wow
GREAT CONTENT! Thanks rudy-dude!
that happened to me with US Bank. I tried to get the fee waived but i would have to go to where i actually opened the account in iowa because the bank was in a different region the local one i went. I told them it was funny that they were able to do all my transaction for me locally. So then i took all the money out and left 2 cents and had them mail me month statements. After 9 months they said they wouldnt mail statements out any long for accounts under a dollar so i added $1 and they kept mailing me statements for about 2 years. They raised the amount and i finally went and closed my account there got em for about $15 dollars of postage. I was also in a position as an influencer of credit cards and i made a SPECIAL POINT of telling people how bad US BANK and their flexperk program was. Get any other credit card rewards program but theirs.
These videos are awesome. I love the learning I get from this channel while also waiting for my repack black lotus to arrive!~!!!!
I remember this stupid nonsense. Had a couple banks try this shit.
Each time when I complained, the manager/supervisor/whatever tried pulling that "we'll wave one of the fees as a one-time courtesy..." bullshit.
Always got all the fees removed for a combination of reasons:
I explained exactly what was going on. That the fees weren't lining up with my purchases, etc...
I let the person I talked to know that I wasn't holding them responsible, just the company.
That if this wasn't fixed, I wouldn't be paying any of them, but instead would go full scorched earth on the banks reputation in every possible legal way.
It was irrelevant to me that the debt would take years to come off my credit report.
All because I would make it my life's mission to share my experience.
That in the end, it would cost the bank exponentially more money than the fees they'd get from me.
Rudy-the Ralph Nader of MTG!
Fantastic video on a very important topic.
Thank you
I'm proud of myself for being confused as you were messing up. Lol and I loved the face you made when you realized!
This happened to me at BofA...after I had been with them as a customer since I was 15. I closed my account and moved to a credit union instead. Fracking crooks making money off of working people....fracking bastards. Thanks for the info Rudy! Liked the video btw.
Honestly, please release more story time /old war story videos.
Not been all that interested in the other videos ( I understand people love box openings, but it's not for me), but I still stay subscribed for these kinds of videos, and have been sorely missing them of late.
Love all your videos Rudy they're all pretty entertaining but this one in particular I can say is truly appreciated. Your final message on this video was great keep making awesome content!
Bank of America 2008 I got hit with 5 transaction fees for going over 1.80 they would not budge, the final purchase broke it too just like you said Rudy totally rearranged. Thank you. The more I watch you the more I learn what I already sort of knew, you help confirm what is "Broken Reality".
Thank you for these videos Rudy. They may be dull to most but I think they have vital information.
The cynicism on your face when you say “we’re here for you” made me lol a little too loud at work.
This is exactly what happened to me at Wells Fargo when I was younger....I will never ever bank with them again. instead of $35x1 they give you $35x6...should be illegal and I wish I would have taken receipts to prove the order of transactions to take them to court.
The other thing that I saw happen to a buddy of mine was his bank would debit money out of an account before they credited the deposits which caused a negative balance and overdraft fees. Time and time again...he never learned and they kept doing it.
I don't play Magic cards but I watched your 30mins video and I'm glad I did.. Keep up the great work!
Thanks so much for these videos Rudy. I really enjoyed this video quite a lot. I watched it while I ate dinner.
You were forced to do horrible things to people, and you couldn't do it anymore. That's how I know that you're a good person Rudy. Best to you and your family in 2020 my dude. :)
Hey Rudy! I really enjoyed this video and learned a lot. It’s mind boggling that this practice goes on, but I’m sure there are other similar practices that are going on that haven’t been discussed! As always, thanks for keeping your taco floppy and I’ll await the next video!
very cool video. was reading about that somewhere last week. bring more videos like this it's pretty cool. thx cheers
Loving this kind of content Rudy! Thanks for doing a deep-dive into this
kind of stuff and making it enjoyable. Feels like the college professor
I always wanted
yup. only reason i keep up with your channel. sometimes the box openings have some little gems in them but these are the best.
Story time with Uncle Rudy!
I also work in the finance industry and one thing thats always surprised me is the lack of public knowledge of "non-Branch" ATM fees. You may think its a free ATM TXN but your bank is charging you $2-$3 per txn done on a non bank ATM. There are MILLIONS of these each month. Don't even get me started on Interchange, there is billions of dollars that the public doesn't even know what it is.
Rudy, I enjoy these vids quiet a bit as I happen to be into finance and all that jazz. as a non murican, I find these shady practices exposee style vids illuminating indeed. Thanks
You asked for feedback. My feedback is that these are the best videos you make and I would love to see more.
What I learned more from your channel based on your experience is way better than those business 101 youtube videos.
I worked in banking for 10 years. I was a branch manager at Bells Cargo(WF) and this was a practice they did for years and customers would come in with hundreds of dollars in fees when in reality they should’ve been hit with maybe 1-2. We were taught to tell customers the “system” structures it that way because they prioritize their large payments because those are usually the most “important ones”. Shady all around. In other words “The bank would rather your small Walmart purchase bounce vs your mortgage or rent payment.”
Hmmmmm sounds an awful lot like the issue the “stagecoach” company ran into a number of years ago. Stumbled across your page a few weeks back and have to say I love these types of videos
Wow dirty tricks. I never even knew this was a thing. Thanks for sharing you knowledge and insight into these practices. So nasty to know but it's good to know what really goes on out there. Love these videos :) keep it up!
Back in 2000 or 2001 this happened to me and I went to my branch with proof they had done this and they laughed at me and said "too bad". That was kinda when I realized there are forces in this world that are out there to fuck you over.
more content like this pls. Ive worked on a doc for 3 years now about the housing market collapse amongst other shady financial shit and its mind-boggling how much the public doesn't know. Its nice to see someone shedding some light on the wealthy taking advantage of the common people who has first hand experience and has a platform to inform.
I subscribed specifically for these types for videos.
Thanks Rudy. Honest video. Appreciate you and your shtick- been watching your vids for a while. This one made me a sub. Cheers from Canada
Currently in school for business economics and plan on being in the finance world at some point, like these video types a lot. Good video for sure 👍
The bank does not respect the stack ? Last in first out !
Lmao made my day
That's one hard phyrexian tower, very good info man thanks.
yeah, i remember hearing about multi-day structuring wherein people would still get transaction fees by structuring it as if someone's pay didn't come in on the day it did, and putting the fees in before the pay came in- even if they were multiple days apart.
IE:
pay 200 D1
bill 200 D3
structure appears over 3 day period
now bill 200D1
pay 200D3
so although it looks like it worked real time on the consumer end, on the business end and in your statement you'd be out 35$
That happened to me when I had Bank of America. They would post transactions at weird times to try and get the bank fees.
To heck with Bank of America. 2007/2008? I was hit with like 4-5 overdraft fees because I bought a 50 cent newspaper from Starbucks (for the Sudoku). Worst $140.50 newspaper ever. I even went in person and asked them to remove the overdrafts, they said no, I paid the bill and closed my account. I learned my lesson and have never done a Sudoku since.
So happy you are doing your investments videos again ! Thanks for doing that ! Always love to listen to what you are saying ! Very interesting!
I enjoy these a lot. Always worth a watch when they pop up in my subs
Had this happen super long ago with WAMU. Would always call and it was a 50/50 to get a refund on the fees, but they always could pull the "your own fault for not managing your money correctly" (I was in my teens). As a note for anyone worried about this today Chase (current bank I use) offers what they call "Overdraft Protection" which sounds like it would prevent this, but actually allows it. It states "if you accidentally overdraft, don't worry we won't let the transaction bounce (making it sound like bouncing a check) we will cover it for a 'nominal fee' ($35 per hit)". You can opt out of the service and essentially set your debit card to "If I try to use this and I don't have enough money to cover it (meaning transactions are deducted immediately from the equation even if they are Pending) Decline My Card (no possibility for fees)". Default is protection is turned on so check your account settings. Not sure how other banking institutions handle this, but I presume it would be something similar masquerading as a "service".
Rudy, this reminds of what I liked to call the NSF bounce. You buy something. The bank puts a hold on the money; in the neg....fee....They release the hold and then charge what you purchased...so, back to positive and in the neg again....fee
I did wonder about the furniture, I'm glad you threw that sidenote
I see my bank doing this on y online statements, and I have called them on it. " why is this transaction posted on this date at this time, thats not correct" and the bank stammers " Oh, well...um, thats just the way it ends up after processing." AND I keep at em till they fix the problem. Banks are a fucked up system we are stuck with until a true violent uprising hapens, which likely never will unfortunately.
been around from the beginning Rudy awesome work you do! kinda messed up there it is obvious you were trying to figure out what went wrong and recovered pretty fast lol. keep it up bro keep-it-up
Learned something new today. Thanks Rudy!
Rudy, you knowledge is invaluable. Many thanks for sharing.
Great respect for sharing to us your knowledge Rudy. Thank you
This entirely happened to me at my business. We were shipping about 35 orders with USPS. This was back when you couldn't do a shopping cart with them. Each transaction was individual and I would just put them on the checking accounts debit card. So I had 35 charges of Priority mail $4.85 ish. now what BOA did was terrible. BOA would take debit card transactions and hold them as PENDING for an arbitrary time. So they removed your available balance but not your actual balance. They would hold them for about an arbitrary 3-5 business days waiting "for them to settle" (their reason) but in reality for a time to "structure" your account. So I had a large chargeback come through from an unrelated transaction 3 months old as an ACH transfer 4 business days AFTER I shipped the above 35 items. BOA paid the chargeback at midnight and immediately settled the pending charge status on all those USPS orders. 35 transactions at $38 overdraft fee each. OOOOOOOOOFFF. my account went from 2 grand to -$1500 at midnight. They wouldn't budge on waving them.
Anything you can shine a light on is appreciated
Rudy offering solid insight on bank....Rudy forgoes bonus for ethics.....HELL HAS FROZEN OVER!!!